Weekly Channel Summary
The Leverage & Inverse channel ended the week with total AUM of $192.38B spread across 799 ETFs from 29 issuers. Net flows were positive at $813M for the 5-day period, extending a $5,643M YTD gain and a $9,621M 1-Year net inflow. The channel continues to attract steady capital even as performance across underlying categories diverged sharply week to week.
This Week’s Performance Leaders and Laggards
Leveraged equity exposure led the channel on a WTD basis, with the Leverage | Inverse – Equity category gaining 1.58%, though it still trails the broader channel’s 81.93% YTD return. Single Stock products were roughly flat at -0.25% WTD but remain the standout performer over longer horizons, up 156.58% YTD and 310.42% over the past year. Commodity-linked leveraged products were the weakest segment, falling 5.98% WTD and now down 28.08% YTD, followed by Fixed Income at -3.00% WTD and -13.61% YTD. On an individual fund basis, DGZ topped the list with a 22.89% weekly gain, while MSOX was the week’s worst performer, dropping 25.63%.
Top & Bottom 5 ETFs by Weekly Performance
Gold-related inverse and short products dominated the top of the leaderboard, with DGZ up 22.89% and GDXD gaining 17.09%, reflecting a weak week for gold and gold miners. EUVX also posted a strong 16.13% gain, while natural gas and silver shorts, KOLD and ZSL, each rose over 12%. On the downside, MSOX fell 25.63% and leveraged gold miner bull fund GDXU dropped 17.59%, underscoring the volatility embedded in single-name and commodity-leveraged strategies this week.
| Ticker | Fund Name | WTD Performance |
|---|---|---|
| Top Performers | ||
| DGZ | DB Gold Short Exchange Traded Notes | 22.89% |
| GDXD | MicroSectors Gold Miners -3X Inverse Leveraged ETNs | 17.09% |
| EUVX | Corgi Lithography & Semiconductor Photonics 2x Daily ETF | 16.13% |
| KOLD | ProShares UltraShort Bloomberg Natural Gas | 12.39% |
| ZSL | ProShares UltraShort Silver | 12.31% |
| Bottom Performers | ||
| MSOX | AdvisorShares MSOS Daily Leveraged ETF | -25.63% |
| GDXU | MicroSectors Gold Miners 3X Leveraged ETN | -17.59% |
| TXXD | 21Shares 2x Long Dogecoin ETF | -17.12% |
| UPAL | ProShares Ultra Palladium K-1 Free ETF | -15.03% |
| XXRP | Teucrium 2x Long Daily XRP ETF | -13.91% |
Analyzing the Weekly Flows
The channel gathered $813M in net new assets over the 5-day period, led decisively by the Single Stock category, which pulled in $1,225M, offsetting weakness elsewhere and reinforcing its position as the largest segment by AUM at $37.70B. Fixed Income and Commodity categories also saw modest inflows of $156M and $64M, respectively. The Equity category, the channel’s largest at $142.62B in AUM, registered the week’s biggest outflow at -$564M, while Crypto products shed $68M. Despite the weekly Equity outflow, the category still holds a positive 90-day flow of $7,196M, suggesting the recent pullback may be short-term in nature.
Category Flows Summary
| Category | Fund Count | AUM | 5 Day | 30 Day | 90 Day | YTD | 1 Year |
|---|---|---|---|---|---|---|---|
| Leverage | Inverse – Single Stock | 491 | $37.70B | $1,225M | -$244M | -$3,497M | $10,730M | $16,962M |
| Leverage | Inverse – Fixed Income | 19 | $3.06B | $156M | $280M | $528M | -$981M | -$1,540M |
| Leverage | Inverse – Commodity | 22 | $4.42B | $64M | $228M | $789M | $6,197M | $6,832M |
| Leverage | Inverse – Crypto | 28 | $4.59B | -$68M | $77M | -$97M | $1,339M | $3,110M |
| Leverage | Inverse – Equity | 239 | $142.62B | -$564M | -$1,685M | $7,196M | -$11,642M | -$15,742M |
Top & Bottom 5 ETFs by 5-Day Flow
TSLL led all funds with $261M in weekly inflows, followed closely by INTW at $205M, both reflecting continued single-stock leveraged demand around Tesla and Intel. On the outflow side, SOXL saw the largest redemption of the week at -$645M, far exceeding the next largest outflow from SPXL at -$114M. These flows suggest investors rotated out of broad semiconductor and large-cap equity leverage in favor of more targeted single-stock exposures.
| Ticker | Fund Name | 5-Day Flow |
|---|---|---|
| Inflows | ||
| TSLL | Direxion Daily TSLA Bull 2X ETF | $261M |
| INTW | GraniteShares 2x Long INTC Daily ETF | $205M |
| SNXX | Tradr 2X Long SNDK Daily ETF | $183M |
| AMDL | GraniteShares 2x Long AMD Daily ETF | $163M |
| TMF | Direxion Daily 20+ Year Treasury Bull 3X ETF | $145M |
| Outflows | ||
| SOXL | Direxion Daily Semiconductor Bull 3X ETF | -$645M |
| SPXL | Direxion Daily S&P 500 Bull 3X ETF | -$114M |
| SQQQ | ProShares UltraPro Short QQQ | -$102M |
| SNDQ | Tradr 2X Short SNDK Daily ETF | -$85M |
| ETHU | 2x Ether ETF | -$72M |
Issuer League Table Update
ProShares remains the dominant issuer in the channel with $86.18B in AUM and a 44.80% market share, followed by Direxion at $68.59B and 35.65% share, together accounting for over 80% of channel assets. GraniteShares led all issuers in weekly inflows with $379M, followed by T-Rex at $172M and Defiance at $112M, highlighting continued appetite for newer single-stock leveraged products. On the outflow side, Volatility Shares recorded the largest weekly redemption among issuers at -$62M, with Roundhill and Corgi seeing smaller outflows of -$19M and -$4M, respectively.
Top 5 Issuers by AUM
| Brand | Fund Count | AUM | AUM Market Share |
|---|---|---|---|
| ProShares | 113 | $86.18B | 44.80% |
| Direxion | 125 | $68.59B | 35.65% |
| GraniteShares | 44 | $9.99B | 5.19% |
| REX Microsectors | 35 | $8.82B | 4.58% |
| Tradr | 83 | $5.46B | 2.84% |
Top & Bottom 3 Issuers by 5-Day Flow
| Brand | 5-Day Flow |
|---|---|
| Inflows | |
| GraniteShares | $379M |
| T-Rex | $172M |
| Defiance | $112M |
| Outflows | |
| Volatility Shares | -$62M |
| Roundhill | -$19M |
| Corgi | -$4M |
For a deeper dive into these trends, access our FREE, in-depth Leverage & Inverse ETF reports in the right side panel of this page.
Disclosures
This material is for informational purposes only and should not be considered investment advice. All investments, including ETFs, involve risk, including the possible loss of principal. Investors should consider their investment objectives, risks, charges, and expenses carefully before investing.
This analysis was developed by the team at ETF Action. We leverage advanced AI tools to assist in the drafting and refinement of our content, based on our expert prompts, direction, and final review.
